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the u.s. economy and the fed's role in monetary policy. he called on congress to raise the debt ceiling in the release of u.s. can pay its bills. he spoke at the gerald ford school of public policy. >> thank you very much. it is also my great pleasure to welcome all of you here today. on behalf of the gerald r. ford school of public policy, the university of michigan is extremely honored to welcome the hon. ben bernanke, chairman of the board of governors of the federal reserve system. today's conversation is the latest in our series of distinguished lectures, policy talks at the fort school. we're so pleased that region white can introduce to the events and we're also very president marye sue: here today as well as -- we also have several of the university's executive officers and beans. i would like to welcome all of them and thank them for joining us today. it is an honor and truly personal pleasure to introduce our next guest. the fed's charges to provide a healthy economy. this is a complex and critically important mission and it makes the person at its helm one of if not the most
green sheet of the economy if that was to begin to surge, he could have real chance of doing some big stuff. >> he's got a huge agenda. he's going to have to find way to work with the republicans. it's a huge challenge. the responsibility is enormous. the opportunity is great. >> i can see you're itching to get to the party. >> did can you hear the grambling university marching band? >> i hate to tell you i was in the james bond film. >> really great to me. >> was it daniel craig or denzel washington got nominated? >> i don't know. >> it was denzel. >> let me point out sky fall. $1 billion in box office receipts worldwide. $1 billion. >> british. >> sky fall. >> wolf, go party. such an honor to be in his presence. it's a night out of celebration here in washington. the star studded parties are continuing to pour out. we'll bring you the highlights as they happen. joining me rising democratic star, san antonio mayor. he knows about the presidency than any other person alive. let me start with you. you gave a sensational performance. barack obama did the same thing and became president.
to carry out the agenda i campaigned on. new security for the middle class. right now our economy is growing and our businesses are creating new jobs. we are poised for a good year. if we make smart decisions in sound investments, and as long as i said on the campaign, one component to growing our economy and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. and for nearly two years now, i've been fighting for such a plan -- one that would reduce our deficits by $4 trillion over the next decade, which would stabilize our debt and our deficit in a sustainable way for the next decade. that would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make in people and education and job training and science and medical research -- all the things that help us grow. now, step by step, we've made progress towards that goal. over the past two years, i've signed into law about $1.4 trillion in spending cuts. two weeks ago
's happening in the political world and the economy which we're in. the situation with the gun violence is very close to home, because i do enjoy -- even though i'm 60, i still go out and hunt and shoot a deer and kill a turkey to eat. host: thank you very much. by the way, the full presentation by the president yesterday, you can certainly watch atlanta cspan.org. good morning, what kind of work do you do? caller: i'm in the mental health field. each level of the patients have had different mental health issues. and i have really been waiting for this issue to come up, because that's what concerns me the most. i have worked with people that have multiple personalities. we have been scared to death. they pick beds up. they have tremendous anger in there. i don't think they get the proper care that they need. and after a while, they're released and that is something that i'm really concerned with. it's not about who is able to get a gun, who is able to have a gun. that's not the issue right here. the issue is that we have to start dealing with people with mental health issues. i have worked in a
a few green sheets of the economy and if that begins to surge, david axelrod tells me later in the show, has a real chance. >> he has a huge agenda, a lot of opportunities and going to have to find a way to work with republicans not only in the senate but the house of representatives. let's see if he can do it. it's a huge, huge challenge and the responsibility is enormous, the opportunity is great. >> well, we have to see and itching to get to the party, wo wolf. >> love those people back there. did you hear the marching band? >> you know why i think they're so excited? your performance in skyfall. >> you were in "flight." >> that's why i wanted to mention it. >> i was in the james bond film. and you were in -- >> really great. really great for me. >> if you work really hard and play by the rules, some day maybe daniel craig and -- >> was it daniel craig or denzel washington oscar nominated? >> i don't know. >> it was denzel. do you know who helped him? me. >> let me point out. $1 billion in box office receipts worldwide. $1 billion. >> british, british. skyfall. wolf, go partying. >>
to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long term. ♪ a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ >>> we're back. political director and chief white house correspondent chuck todd will take us inside the numbers of the latest poll as you tee up the second term, chuck. >> four years ago, enormous expectations for president obama. there were a lot of people, hope and change was big. this time, call it pragmatic hope as far as the public is concerned. as you see here, just less than 30% believe they're going to evaluate president obama with a clean fresh slate. 64% will evaluate him based on past feelings. and here, a continuation of a trend we saw throughout the first term. very similar to what ronald reagan dealt w
here in many respects, whether it is deficits, measures to help economy, immigration, gun safety legislation, there's huge support amongst all independents, democrats and republicans throughout the country. the barrier is there's factions here in congress, republicans in congress out of the mainstream. we need to bring the american people to-to-these debates. >> do you need to bring the american people into these debate buys suggesting evil motivation by your opponents? i think that's what -- you know, it's hard to see a president calling you for unity when he is suggesting that people who disagree with him don't disagree with him on policy but because they care more about the nra or they don't care, in the case of the debt ceiling, whether the country falls into recession again? is that the way to go about it? >> the debt ceiling it is truth. think about this, can dirk the first time in our country. >> reminding people president himself, when he was in the senate, voted against the debt ceiling, these people that he is suggest want the country to go into default are doing the sa
the economy. actual real-world events. this, for example, is what happened to the vix on october 24th, 2008, that big red arrow there. that's when the stock market crashed in '08, one of the worst days of the great recession, record high vix. another spike happened may 20th, 20 2010 when there was sudden new that is europe's economy was even in worse shape than we thought. it spiked at a two-year high august 8th, 2011, when the u.s. credit rating got downgraded. republicans in congress threatened to default on our national debt and credit rating got downgraded. wall street freaked out. vix went way up. you can think of a high vix reading, a spike in the vix as a red light flashing. alert, alert. maybe your economy is tanking. maybe it isn't. but a lot of people on wall street have reason to believe that it is. panic. today, as he kicks off his inauguration weekend, president obama was given a great present by the vix. this is the present that vix gave to barack obama today to celebrate his inauguration as a second-term president of the united states. look. happy inauguration, mr. president.
the country faces which is getting our economy going. >> sean: i like what our colleague charles krauthammer said it's an ode to big government and you pointed out in the list, gun control, gay marriage, global warming, he not only wants to lock in every liberal agenda item, but advance it further. will he be successful? second term are notoriously not successful. >> let's add global climate warming on her, climate change. we've already passed this through the congress. it's done. is congress going to pass it? is congress going to tell the states, no, you can't put that past voter i.d. laws? only in it's bipartisan doesn't require amnesty and citizenship. gun control passed, no. i think the president was basically declaring his administration is no longer substantive achievement. it's make the democratic party and making the republicans look more extreme. taking their strength to pass positive items that pile up over in the senate never to be really considered, but give them an agenda, a view that says to the american people he's over there worried about gun control. we're worried about gett
escalates the fight on the w economy. is the debt ceiling negotiable? your thoughts? send us a tweet or post your comment on facebook. you can also send us an e-mail. president obama held his last official news conference of the first term yesterday in the east room of the white house. here's what he had to say on the debt ceiling debate. [video clip] >> republicans and congress have two choices. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect ransomed in exchange for not crashing the american economy. the financial well-being of the american people well-being is not a leverage to be used. the full faith and credit of the united states is not a bargaining chip. they had better choose quickly, because time is running short. the last time republicans in congress even flirted with this idea, r. triple-a credit rating was downgraded for the first time in our mystery, our businesses created the few jobs in any month in nearly the past three years, and the whole fiasco added to the deficit. ho
, in immigration reform and, above all, in what we have to do to invest to grow our economy and grow opportunity. >> pelley: you know, i don't think gun safety would have been at the top of the president's agenda two months ago but after newtown, of course, it has become -- >> it's impossible to turn away from it now. it's impossible. >> pelley: which leads to the question: what do you expect to see from the president in terms of resolve on this as we get farther from the tragedy itself? >> well, i think you saw in the president's announcement, i think it was last week after the vice president's series of recommendations, what the contours of his proposal will be in terms of an assault weapons ban, a limitation on access to military style clips with multiple rounds in them. i think he's shown consistently a willingness to reach out to gun owners, sports men and women and hunters to make sure their interests are respected, consistent not just with the second amendment but consistent with their reasonable interests. but i think the idea of insisting that we do what we can as a federal and as state
the count kraoe which has not occurred. we are more divided than before. and get the economy on a surround recovery to get out of a recession that we've had. the pieces of business hangover the president. he has proven that you can get reelected in a weak economy, which a lot of people, myself included thought would be more tkeufpbt it turned out t difficult it turned out to be. it was a narrow election. he has that ahead of him. not to mention the things that haunt a second term which none of us can imagine today. >> you can see former president clinton and secretary of state clinton. who is going to be testifying before congress in a less friendly atmosphere later this week. i was reading obama's first inaugural address today, because i thought, you know, let's get a sense of what it is that he said four years ago. i want to read you two lines. on this day we come to proclaim an end to the petty grievances and falls promises the recriminations and warn out doug mas that for far too long have strangled our politics. that is an incomplete at best. not all the president's fault but also cou
't want to happen on your watch because it's only sidetracked economy. so the president has an incentive to come to the table and tried to get the issue under control. and you have the republicans issue which part of the republican dna, fiscal responsibility, balanced budgets, trying to get the deficit under control. most of the people have been elected in the last few years have been elected basically on the fiscal policy agenda coming out of a coming out of the tea party initiative. so that you have an identity of interest. the question really becomes the politics of getting people to go across the aisle to reach agreement. and i don't think the house can do it very honestly. because the fact so many seats in house now are gerrymandered by party. and the one thing that happens in those districts, about 65% of the house is now gerrymandered by party, when you're elected your elected by the base. you win the primary you are the congressperson. the one thing you can't do with your base is compromised. that's the one thing the base won't tolerate, on both sides. you can't govern because go
administration, it didn't happen in one fell swoop to get our economy in great shape and move toward a balanced bump started off with three phases. started with president bush's actions, the first president bush, in terms of taxation, before president clinton took office. then the actions the president took in '94 and then in '97. well, we think there's a third phase here that can set our country on a path that will allow us to get our debt, the gdp, our deficit to gdp, down around 3%, which is the basis of which all economists left, right, center, agree, are the areas which we really can begin to grow as a country. and also my grandfather used to say, with the grace of god and good will of the neighbors, cooler heads will prevail between now and the time we deal with the debt ceiling, that we may very well be able to meet the goal which we set out to do, which is to have roughly a $4 trillion cut over ten years, and in the long-term deficit and put us on that path. but i didn't come here to talk about any of those important subjects today because, as important as they all are, today we have a
for the markets and the economy? >> i hope so. if what the republicans are talking about is let's have this debt ceiling skirmish every quarter, every three months, nobody is going to like that, especially the markets, and for very good reason. if what they're say something we're not going to play debt ceiling leverage anymore, which has obviously been the president's position, that's good. my feeling is it's probably the latter. i think there are enough kind of economic grown-ups in the room to really control the folks who have threatened to use that kind of leverage. >> but the senate has not had a budget resolution pass through the senate in, what is it, four years now? >> april, 2009. >> that feels to me pretty shameful frankly. i don't know the politics and i'm not exactly sure why that's the case, but isn't that a critical step in bridging the gap and making progress on these issues where you can not go to these sort of extra legal things like using the debt ceiling as leverage, but you can use the process as it is intended to be used. >> i agree, and it's an interesting quid pro quo for t
attached to it. >> heather: let's talk about the economy. the president starts his new term. less than 1% rate it as excellent. 9% say it's good shape. that is up a touch from his first inauguration but 91% of voters say economic conditions negatively today. why are we here again? >> you have to wonder. i point you back to november the conditions haven't changed all that much in two months. i would imagine that those exact numbers were the same on election day, and the american people not only re-elected the president but gave us the same senate in the house as we had before. so as much as they are saying economy isn't going well, when they had an opportunity to change things they voted for more of the same. >> heather: you mentioned congress, finally two polls dealing with that. first since president obama was re-elected, 30% think he has been more bipartisan in working with congressional republicans, 55% the majority says he has been more confrontational? >> i think some of the number for confrontational they are saying that as a positive. certainly democrats want him to be more confro
regulatory fast thanks to the health and safety executive and the european union. the british economy is very reliant on smallnd medium businesses far less able to cope with bad regulation particularly when it's badly administer inside the u.k. >> my honorable friend is absolutely right. businesses large andsml are complaining about the burden of regulation. not just the burden of regular ration from europe -- regulation from europe, but more generally. and that ishy we should be fighting in europe for a more flexible europe and a europe where we see regulations come off. but the view of the party opposite is sit back, do nothing and never listen to the british >> you have been watching prime minister's questions from the british house of commons. watch any time at c-span.org, where you can find video asked by ministers questions and other are just public affairs programs. >> this event has been phenomenal. we have had more companies with more innovation and more excitement than i can ever recall. chairman just made a huge announcement, -- not only for wi-fi, but other products you cannot eve
. also the times are tough. the economy is sluggish. international challenges put a damper on many things. the president has a lot of work to do and a lot of battles ahead with republicans. they expect it could be significantly smaller. instead of 1.8 four years ago. they lowered the crowd estimates. originally 600 to 800,000. yesterday we were infirmed organizers think maybe closer to 500 to 700. only perhaps a quarter of the size of four years ago. of those here no less enthusiasm. bill, martha. bill: history will show you the beginning of second term, sometimes you get 250, 300,000 at the high end. carl, we'll talk to you later this morning. carl cameron on the mall. martha? martha: people who are here are very enthusiastic and excited to be part of this big day. no doubt that means very tight security here in washington as well. there will be extra air and boat patrols around the city along with checkpoints and metal detectors along the parade route. 2000 police officers from 0 states are helping with security. lined up motorcycles behind us on the parade route. more than 6,000 member
are actually going up. the economy's getting a little bit better. the wars are winding down so he does have a shot but most important thing to say is i think he's found his game. >> if you look at president's popularity, his is low. >> one of the lowest in past 20, 30 years but the numbers moving in the right direction. i think he's found his rhythm, found a way to actually play the game in this town. i think he may have a better second term than the first. >> margaret -- >> be careful, my friend. >> is the country more divided than been for other second term presidents? >> the temptation is to say, yes. we are listening to civil right activists saying the country is not as polarized and keep it in perspective but i think everybody has been saying to the president, in terms of legislateively, strike while the iron is hot. traditionally for all presidents, right now. it is the first year of their second term. remember, we had six-year itch. getting to finally the third cycle, 2014, you know, generally the minority -- the house of republicans expecting to gain seats because there's a six-year
economy, a second term both bold and bumpy. >> progress does not compel us to settle centuries long debates about the role of government for all time, but it does require us to saact in our time. >> reporter: time like history that was fast advancing. joe johns, cnn, washington. >>> that's when the president turned around and said he's not going to see this again. he wanted to take one last look at the crowds. some estimated 800,000 or so. we're not sure of the exact number, who were all there watching, staring back. president obama and the first lady honored reese chbt tradition by crawling out of the limo, strolling down pennsylvania avenue. let's take a look. the crowd before us getting even more excited when they see the first lady and president outside of their limo. waving to the tlung throngs of well wishers lined all along pennsylvania avenue. they followed the footsteps of jimmy carter and rose alyn cart who created the tradition of walking down pennsylvania avenue. they walked the entire way. president obama and the first lady got out of the vehicle twice. now, despite the
, it didn't happen in one fell through to get our economy in great shape and move towards a balanced budget. it started out for three phases. started off with president bush's actions. first president bush in terms of taxation before president clinton took office in the action the president took in 94 and 97. well, we think there is a third phase here they consider country on a path that will allow us to get our debt to gdp, deficit to gdp down around 3%, which is all economists are training center greer that areas we can begin to cruise the country and as my grandfather used to say that the grace of god and goodwill of the neighbors, between now and the time we deal with the debt ceiling, we may very well be able to meet the goal we set out to do, which is to have roughly $4 trillion cut over 10 years in the long-term deficit and put us on that past. i didn't come here to talk about any of this important subjects today because as important as they all are today we have a mortgage and indie media call and that is how to do with the epidemic of gun violence in america. the one of the statist
. the start of a four-year battle on guns, immigration, and the economy. >> hope you do dog? -- so help you god? >> barack obama and his immediate family, a few words, and that was it. president joe biden will -- vice president joe biden will do it tomorrow. here to see the swearing in, a chance for the president to rally the country, because experts say he needs to get americans involved if he has any chance of getting his way. >> he needs to target red states. he needs to target some of these senators out there who could be moved on some of these issues. it could be a brilliant plan if barack obama and execute it properly. >> i hope he turns the country around. gets the economy back on solid ground. and move the progressive agenda floor. >> we have to get the economy going. to many people are unemployed. >> gun control, immigration reform, and deficit reduction. >> monday happens to be a federal holiday in the u.s.. >> what is memorable about this inauguration, it comes on martin luther king's birthday, the holiday we celebrate. he's using martin luther king jr.'s bible. he has got to tak
, for the war to end. host: let's hear the president speaking on the economy, social security, and medicare. caller: we the people -- [video clip] >> many barely make it. we believe that america's prosperity must rest upon the broad shoulders of a rising middle class. we know that america thrives when every person confined independence. on the wages of honest labor, liberating families from the brink of hardship. we are true to our creed, when a little girl born into bleakest poverty has the same chances to succeed as anyone else because she is an american, free and equal, not just in the eyes of god, but in our own eyes. we the people still believe that every citizen deserves a measure of security and dignity. we must make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had
month. visit choosenissan.com. road and track called sentra an economy car minus the look and feel of an economy car. wonder how civic and corolla look and feel about that. the all-new nissan sentra, with best-in-class mpg. lease for $169 per month. visit choosenissan.com. >>> initial estimates say the crowd at yesterday's inaugural was at least 1 million people. that's down from the 1.8 million who came out to see president obama sworn in the first time, but even so, a turnout of a million people put's obama's second inaugural at one of the biggest ever. look at that crowd. it's almost double who turned out to see george w.'s second inaugural and tops the 800,000 who saw bill clinton sworn in. before obama the previous crowd estimate record was 1.2 million who came out for lbj, lyndon johnson's inaugural back in '65. we'll be right back. in america today we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them
. and a lot of republicans say it poisoned the waters. when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun contr
and nancy pelosi in december of 2007. he said the economy is slipping, i need a stimulus and they worked with him to give him the kind he can sign. then 2008, the terrible crisis and it was a very partisan thing in which the bush administration got more support from democrats and republicans in the final vote. then comes the election of barack obama and mitch mcconnell's announcement that his number one agenda item is to defeat president obama. we have, i think, a productive 2009 and 2010 and then in 2010, a group gets elected in the house, in particular, we don't believe in governance. not totally pessimistic. the way to go we've seen in the last three major issues in the house, a split within the republican party where main stream conservatives of the bob dole variety have aligned with the majority of democrats. they've been opposed by a majority of republicans in the house, but not of the whole house and speaker boehner, to his credit, has been allowing a coalition to come together and i hope what happens is that the main stream conservativism of the republican party continue to fight
to do. but he needs to get to work. and the number one problem is the economy. he's got to fix the economy. the fiscal situation has been fixed, to a large extent. the stock market's doubled. that's pretty good. but he has to get everybody working again. it means fix the economy. it means fix the education. so we're bringing kids along that have the skills for 21st century america. his focus has to be on the economy. on the need to reduce unemployment. and frankly, i hope he can, through his own example, restore a sense of civility in the country. >> every president learns a lot. is scarred by the office. also made more wise by the office. what is the one thing you hope president obama has learned over the last four years? >> i hope he's learned that you know, no one part of the government, really, gets it all done. and so, he's got to do a better job of reaching out to members of congress, across both -- across the aisle, to the republicans. and the republicans have to stop buying into things that demonize the president. why aren't republican leaders shouting out about all thi
" live from the dubliner coming up. >>> the state of our economy calls for action bold and swift, and we will act, not only to create new jobs but to lay a new foundation for growth. we'll build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. we'll restore science to its rightful place and wield technology's wonders to raise health care's use and lower its cost. >> here we are four years later. why not come back to the dubliner? all you did too. my, lord. the line goes around the block. a wonderful, joyful crowd. thank you all for coming. joining us now with the politico playbook, the politico executive director jim. >> i'm always a dose of sunshine in the morning. you guys were talking about ted cruz and his comments on gun control. i think what people need to realize, ted cruz is a mainstream republican with this senate and this house. his views, he's not on the conserveative edge of the party. that is the party. when you think about the budget, think about gun control -- >> saying the president exploited
the economy in great detail. he does massive preparation and i think when he sits down at a table to say, do a fiscal deal one of the reasons he's able to close that deal is because, a, he has decades of experience in compromise which some of these kids today up there don't really know much about. and he understands the granularity of these issues and we saw this and it's helpful. >> vice president joe biden is going to take the oath of office for a second tomorrow right after we return from the break. ♪ ♪ pop goes the world pop in a whole new kind of clean with tide pods. a powerful 3-in-1 detergent that cleans, brightens and fights stains. pop in. stand out. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! wears off. [ female announcer ] stop searching and start repairing. eucerin professional repair moisturizes while actually repairing very dry skin. the end of trial and err
be a financial disaster, not only for our country but for the worldwide economy. i don't think it is a question that is even on the table. >> and the last question of his press conference, the president was asked if he may be more successful with some of the nuts you just heard from if he spent more quality time with them. >> you and your staff are too insular, that you don't socialize enough. >> this, of course, is one of the great myths of governing, that intractable problems, political problems, can somehow be solved over a card game and a couple of drinks. that has never, ever been the case nor will it ever be the case. >> i like speaker boehner personally. and you know, when we went out and played golf we had a great time. but that didn't get a deal done in 2011. >> the president actually had to remind the media that congressional behavior is the result of democracy. >> now if the american people feel strongly about these issues and they push hard and they reward, or don't reward members of congress with their votes, if -- you know if -- if they reject sort of uncompromising positions or s
the economy and barack obama came on and was in a joef yell mood. >> for all of the talk we had during the campaign ofment o prt obama's ability to raise money it would be a million dollar campaign and the talk mitt romney had more corporate donors it would be a wash in cash. the president had no trouble raising enough money to get himself re-elected it is thanks in part to an incredible network he has built over the years. talk about the importance of money in this election, charles. >> he has never backed for money. in 2008 he was the first to go without the federal matching money so he could raise unlimited amounts he did and he crushed mccain in terms of the fundraising. he is commuting with the 53 percent his way of reaching to try to bring us all together after a campaign where he ran into 47 percent. it is a night where they are just having a good time. i wouldn't take any of it too seriously. it is a minor bit. you have to give him a pass on inauguration. he's having a good time and this is the money essentially to fund all of the festivities he which he won fair and square. >>
conditions could lead the president to repeat himself in 2009. economy remains sluggish healthcare remains too costly, et cetera. one historian interviewed the president from rolling stones magazines says mr. obama needs to revise faith in the american dream. >> i would image if i were writing a speech for him i would inject a dose of ronald reagan optimism don't despair in america. >> follow me at twitter at james rosen and i will tell you which president was the first to have his inaugural address live nationwide. >> i always follow your twitter but i will especially tonight. >> you are always so good to me. >> the political landscape at the part of the term was different than it was when he came to the white house four years ago. republicans control the house. you need look no further than the recent game of political chicken over the fiscal cliff to know just how divided washington is. and more instance show downs are looming. one example the debt creel and controlli -- debt ceiling and what americans describe as out of control spending. republicans take with the attitude toward congre
us that the british economy -- businesses far less able to cope with -- >> my honorable friend is absolutely right. as mrs. are complaining about the burden of regulation. not just from europe, but more generally. that is why we should be fighting in europe for more flexible europe and a europe where received regulations come off. the view of the party opposite is to sit back, do nothing, and never listen to the british people or business minds. >> order. >> you have been watching prime minister's questions from the british house of commons. western time airs live on c- span2 every wednesday at 7:00 a.m. eastern, when the house of commons is in session. and again on sunday nights. watch anytime at c-span.org. you can find video of past prime ministers questions and other british public affairs programs. next, president obama, vice president biden, the first lady and jill biden speak to donors before tomorrow's inauguration ceremony. >> a good evening,. thank you so much for joining us tonight. more than that, thank you for the kindness, friendship, and support that you have sho
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